TIER IV, the pioneering force behind open-source software for autonomous driving, has secured a credit facility worth US$7 million (JPY1 billion) from Sumitomo Mitsui Trust Bank (SMTB), one of Japan's leading trust banks.
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The facility provides flexible funding to meet working-capital needs arising from TIER IV's domestic and international expansion. It will support the wider rollout of the company's autonomous driving services, paving the way for the next stage of growth.
Building on its advanced autonomous driving technology and established track record, TIER IV is accelerating the deployment of intelligent vehicles. The agreement with SMTB strengthens the company's foundations and reinforces its commitment to making autonomous driving accessible to all.
About TIER IV
TIER IVstands at the forefront of deep-tech innovation, pioneering Autoware, open-source software for autonomous driving. With a comprehensive suite of platforms and services built on Autoware, TIER IV provides everything from software development and vehicle procurement to operational support. Through the Autoware ecosystem, TIER IV works with partners worldwide to shape the future of intelligent vehicles with open-source software, aiming to create mobility that is safer, more sustainable, and accessible to all.
Autoware is a registered trademark of the Autoware Foundation.
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SOURCE TIER IV, Inc.
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